Fri, 03 Dec 2021 Today's Paper

Stock market players await strong December quarter results for further boost

25 January 2021 09:07 am - 0     - {{hitsCtrl.values.hits}}


  • ASPI gained 729 points last week to close at new all-time high of 8,463 points
  • Average turnover hits Rs.12bn; market cap increases by Rs.318 bn to Rs.3.69tn

With a record-breaking week behind, investors at the Colombo Stock Exchange (CSE) are poised for another week of buoyancy beginning from today, with strong December quarter results expected to hit the market. 

The benchmark All Share Price Index (ASPI) of CSE last week gained 729 points or 9.42 percent to close at 8,463 points, setting a new record in the CSE’s 35-year history.

The more liquid S&P SL20 Index also gained 409 points or 14.10 percent during the week to close at 3, 312 points. 

The cumulative turnover for the week topped Rs.60 billion, up 58 percent from the week before while the daily average turnover hit Rs.12 billion compared to Rs.9.5 billion a week ago.

Market capitalization, meanwhile increased by Rs.318 billion to 
Rs.3.69 trillion.

“The local retailer dominance was clear with LOLC Holdings being the highest contributor to the week’s turnover value, with Rs.4.82 billion or 8.04 percent of total turnover value. 

Expo Lanka followed suit with 7.91 percent of turnover (value of Rs.4.75 billion) while Browns Investments contributed Rs.4.52 billion to account for 7.52 percent of the week’s turnover. We saw interchanging ownership between these three retailer favourites,” Acuity Stockbrokers Research said.

They also said retail play continued throughout last week while banks saw a brief resurgence.

“The Capital goods Industry Group was the highest contributor to the week’s total turnover value, accounting for 26.97 percent (or Rs.16.19 billion) of market turnover. Industry Group’s turnover was driven primarily by JKH, HAYL, and AEL, which accounted for 65 percent of the sector’s total turnover,” Acuity Stockbrokers Research said. 

“Banks saw a resurgence catalyzed by the reintroduction of cash dividends. Materials Industry Group contributed 16 percent to the weekly turnover. The Materials Industry Group dominated the market in terms of share volume, accounting for 29.19 percent (or 715.93 million shares) of total volume, with a value contribution of Rs.9.58 billion. 

The Food, Beverage & Tobacco Industry Group followed suit, adding 27.89 percent to total volume (683.90 million shares) while capital goods contributed 11.15 percent (273.54 million shares) to the weekly share volume,” they added.

However, despite local investor bullishness, foreign investors were net sellers during last week with total net outflow amounting to Rs.2.36 billion compared to a net outflow of Rs.615 million a week ago. 

The net foreign outflow as of last Friday stood at Rs.3.9 billion.



  Comments - 0

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment

A Sri Lankan giving dignified burials to unclaimed bodies for five decades

After their death, most people are memorialized at a service, surrounded by g

Focus on Laggala Gem mining big shots bigger than the law

The truth is now being uncovered regarding an illegal mining racket in state

How and why the TNA was formed twenty years ago

The Tamil National Alliance (TNA) is now twenty years of age. The premier pol

India lays emphasis on culture diplomacy with Sri Lanka

Indian Prime Minister Narendra Modi wanted to inaugurate the Kushinagar Inter